BMW rolls out blockchain solution to drive supply chain transparency
Luxury vehicle company BMW Group uses blockchain to drive supply chain transparency.
In a press release, BMW Group announced that it has been using innovative digital technologies to optimize its processes like blockchain technology. It uses blockchain in purchasing to ensure the traceability of the item it purchases. In 2019, the company conducted a successful pilot project for purchasing front lights and this year it wants to expand the project to a large number of suppliers.
BMW Group also announced that it initiated the “PartChain” project that aims to trace the parts and critical raw materials in complex international supply chains more or less “at the push of a button” and targets industry-wide solutions for secure data sharing.
“PartChain enables tamper-proof and consistently verifiable collection and transaction of data in our supply chain,” said Wendt. “This move is designed to take the digitalisation of purchasing at the BMW Group to the next level. Our vision is to create an open platform that will allow data within supply chains to be exchanged and shared safely and anonymised across the industry.”
BMW’s PartChain uses Cloud technologies in addition to Blockchain solutions. It allows the origin of components to be tracked between all participating partners without any risk of manipulation.
BMW Group also co-founded the Mobility Open Blockchain Initiative (MOBI) in 2018, a cross-industry initiative comprising 120 leading automotive, mobility and technology companies. Within MOBI, BMW heads a working group on supply chain issues and its members share the same goal of helping blockchain technology advance in the mobility sector.
“We want to share our PartChain approach with the initiative and invite interested companies to join the initiative,” explained Wendt.
In October 2019, leading automakers like Ford, GM, Groupe Renault, Honda and BMW joined together and developed a multi-stakeholder Proof of Concept (PoC) for a blockchain-based Vehicle Identity (VID). The project is carried out under MOBI, a non-profit organization that aims to make transportation safer, more affordable and more widely accessible by leveraging blockchain technology.
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